2014 looks set to be another year of innovation and growth for the FinTech sector. Our predictions have been dominated by exciting technology advancements in the Cloud, Data and Mobile, and some outstanding companies have emerged to compete in these areas.

The link-up could mean billions in extra revenue for Apple whose iPhones were previously not compatible with China Mobile’s government-mandated proprietary 3G connectivity standard. This technical issue has now been resolved, however, and the Chinese government has also allowed the internationally-compatible 4G standard to be rolled out across the country, and across all MNOs, paving the way for the distribution deal. The increasing adoption of mobile smartphones in China is expected to increase the uptake of mobile banking, payments and other financial and retail services in the country, especially as the faster 4G standard gains traction. Banks will have to work hard, however, to fight off the disintermediation threat from Isis and other such non-traditional rivals.

According to the ‘FT’, Apple’s iPhone 5s and 5c models will go on sale on 17 January 2014 in China Mobile’s retail stores across the country for the first time, alongside older models such as its original iPhone 5 launch. The news has lead to a 20% rally in Apple's share price this quarter in anticipation of the now confirmed China Mobile distribution deal.

China Mobile is the biggest mobile carrier in the world with more than 750m customers, with approximately 170m of them on the 3G network and millions expected to adopt 4G as it is rolled out across China. In comparison, the nearest international rival US MNOVerizon Wireless has only about 100m connections.

The UK's manufacturing outlook is at its best in 33 months in November, according to purchasing managers' index (PMI) data compiled by Markit.

Jeremy Cook, chief economist at World First, notes that industry has "managed to shrug off the impact of both a stronger pound and a resumption of economic worries in the Eurozone, our largest export market."

November also saw the fastest job creation in the sector since May 2011 with production and new order growth at or near 19 year highs.

The headline PMI number rose to 58.4, from 56.5 (revised up from 56). Analysts had expected that unrevised number to remain flat at 56. Any number above 50 implies an expansion in the sector.

OIL MAJORS including BP and Statoil are part of a consortium that yesterday unveiled a new multi-billion pound sales agreement that would bring gas directly from Azerbaijan to Europe for the first time.

Just over 10bn cubic metres a year of gas will be produced from the Shah Deniz field in Azerbaijan each year, in a deal valued at around $100bn (£62.3bn) over the 25-year lifetime of the contract.

The project will develop a new transport network, including 500km of subsea pipelines, so that 16bn cubic metres of gas will be delivered through over 3500km of pipelines through Azerbaijan, Georgia, Turkey, Greece, Bulgaria, Albania and under the Adriatic Sea to Italy, although the project is expandable.

FTSE 100-listed BP owns a 25.5 per cent stake in the venture, as does Norwegian oil giant Statoil. The other operators in the venture are Azerbaijan state company Socar, France’s Total, Russian firm Lukoil, Iran’s Nico and Turkey’s TPAO.

A final investment decision will be made on the new project by the end of the year. Nine energy companies have agreed to buy the gas, including E.On, Shell and Enel.

“These agreements mark the biggest gas sales in the history of Azerbaijan,” said Rovnag Abdullayev, president of Socar. “They also mark the beginning of direct links between Azerbaijan’s huge gas resources and the European markets…I am sure that this cooperation will bring benefits to consumers across Europe and will play an important role in strengthening European energy security.”

Gordon Birrell, regional president for BP in Azerbaijan, Georgia and Turkey, and president of the consortium, said: “The strong demand for Shah Deniz gas gives us confidence in the long-term development of Azerbaijan’s gas resources.”

STERLING jumped to its highest level in eight months yesterday as the UK posted another set of impressive labour market numbers.

The pound was printing above $1.58 last night, having climbed from $1.49 since early in July. The rise has been steady across the last eight weeks, yet was boosted yesterday by a 0.1 per cent fall in the UK’s unemployment rate to 7.7 per cent. A seven and a half month high was also reached against the euro, as sterling beat €1.19 in the day’s trading. The currency also struck a four-year high against the yen, while the trade-weighted sterling index rose to an eight-month high of 82.6, Bank of England data showed. And CMC Markets Michael Hewson says there may be more to come. “I think it’ll go to $1.60 no question,” Hewson told City A.M., adding that a stronger pound could be a useful guard against inflation if oil prices rise even further.

JAGUAR Land Rover is creating 1,700 new jobs in the West Midlands, the British car manufacturer announced today.

The company has pledged to invest almost £1.5bn in a new aluminium body for its next models, requiring new staff at its Advanced Manufacturing Facility in Solihull.

The announcement comes less than a month after reports that JLR was preparing to add up to 1,000 new jobs at its Merseyside factory. The company said today that it has created almost 11,000 UK manufacturing roles in the last three years.

Tata Motors-owned JLR posted a 30 per cent rise in sales last year, helped by booming demand in fast-growing Asian markets and the United States.

“[T]his investment and level of job creation is yet further evidence of our commitment to advancing the capability of the UK automotive sector and its supply chain,” said chief executive Ralf Speth, who is unveiling the plan at the Frankfurt motor show.

Elsewhere at the event, visitors were left puzzled by the last-minute cancellation from Fiat boss Sergio Marchionne for unspecified “work commitments”.

Shares in Fiat spiked five per cent on rumours that he scrapped his appearance to attend talks with Chrysler, the company’s US unit, which Marchionne hopes to buy out.

A senior executive at Skype confirms the firm has developed 3D video calls, but has not added the feature because of limitations with camera technology.

Skype has confirmed it has developed 3D video calls.

The news was revealed by a senior executive in an exclusive interview with the BBC to mark Skype's 10th anniversary.

There had been speculation about the possibility after the firm posted an advert in April saying it wanted to find a way to create "body-doubles"for workers unable to travel to meetings.

However, the executive warned it could be many years before the tech launched.

"We've done work in the labs looking at the capability of 3D-screens and 3D-capture," said Microsoft's corporate vice-president for Skype, Mark Gillett.

"We've seen a lot of progress in screens and a lot of people now buy TVs and computer monitors that are capable of delivering a 3D image.

Mark Gillett joined Skype in 2010 ahead of its takeover by Microsoft

"But the capture devices are not yet there. As we work with that kind of technology you have to add multiple cameras to your computer, precisely calibrate them and point them at the right angle.

"We have it in the lab, we know how to make it work and we're looking at the ecosystem of devices and their capability to support it in order to make a decision when we might think about bringing something like that to market."

Eagle Investment Systems LLC, a leading provider of financial services technology and a subsidiary of BNY Mellon, today announced that it was ranked as one of the FinTech 100, an annual international listing of the top vertical technology vendors that derive more than one third of their revenue from this industry, as named by American Banker, Bank Technology News, and IDC Financial Insights.

“For the past decade, Eagle has been listed among the leading financial technology providers in the industry. We’re proud of our team’s accomplishments and it’s an honor for us to be acknowledged year after year,” said John Lehner, president and CEO of Eagle. “FinTech 100 spotlights financial technology providers that are committed to the industry and provide the most innovative and efficient solutions to financial organizations.”

The ranking includes the top 100 global technology providers in the financial services industry, including the banking, capital markets and insurance industries, which derive more than a third of their revenue from the financial industry.

Insight, jobs, content, market news, salary surveys, downloads, reports, events, video, infographics and details of Harrington Starr's comprehensive service. Our new website has launched and is THE destination for professionals in financial services and commodities technology to find the tools, jobs and insight to boost their career and make them more productive and successful.

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MORE small companies intend to take on additional staff in the third quarter than at any time in the last three years, according to new research released today.

The Federation of Small Businesses (FSB) reveals that 15 per cent have increased staff numbers in this quarter, and have positive intentions for the near future.

In April next year, small firms will benefit from a cut in their national insurance contributions (NICs) of up to £2,000, called the Employment Allowance. An FSB survey shows that 29 per cent intend to use the cut to boost staff wages, and 28 per cent will use it to employ additional staff.

The cut in NICs was announced in the March budget this year, and will come into effect in the upcoming financial year.

Of those small enterprises that do not intend to increase their employment levels after the tax cut comes into force, nearly a quarter want to use the reduction in their tax bill to invest in other resources

John Allan, FSB national chairman said: “Findings show that the Employment Allowance due to kick in next spring will have the desired effect. Through the measure, small firms are looking forward to taking on more staff, expanding their businesses and rewarding existing employees for their efforts.”

However, Allan added a note of caution: “the most recent unemployment figures show that long term unemployment, particularly among young people remains a concern.”

The FSB’s third quarter report was the first since 2010 in which more businesses said they planned to increase their staff levels than cut them back, though nearly three quarters suggested that they do not intend to change employee numbers at all.

Despite relatively weak hiring intentions, over half of small businesses aspire to rapid or moderate growth in the next year. Only 8.5 per cent now expecting to downsize.

SOCIAL media giant Twitter last night confirmed its intention to float, marking one of the most hotly anticipated listings in the tech sector since Facebook’s stock market listing last year.

The web giant revealed the confidential filing on its own Twitter account, announcing that it had filed paperwork with US regulators. Goldman Sachs will be the lead underwriter in the IPO, which is now expected in the first quarter of 2014. Twitter is estimated to be worth at least $10bn (£6.32bn), according to investor GSV Capital’s valuation of its own shares in the company. Revenues last year were estimated by analysts to be around $350m, but were expected to rise sharply this year. However, Twitter’s filing last night was confidential, something allowed by The Securities and Exchanges Commission under the Jumpstart Our Business Startups (JOBS) Act. It means that firms considered as “emerging growth” with less than $1bn (£632m) in annual revenue can register a public share sale without publishing details of the application. Such firms only have to provide two years of financial data, and can reveal detailed information on the filing only three weeks before the float. Twitter, which was founded by Jack Dorsey in 2006, has racked up over 500m registered accounts in just seven years, and over 200m active users. Max Wolff, an analyst at Greencrest Capital, says that Twitter, which allows users to send out streams of 140-character messages, is on track for 40 per cent annual growth: “It’s completely conquered mobile. “It has an enormous social network. It’s becoming a key utility as a second screen to TV and it’s literally the first draft of history,” Wolff said. “Normally a company like Twitter would have been public for some time.”

POLITICIANS and businesses have thrown their support behind fracking, insisting the controversial form of gas extraction is vital for the UK’s growth and poses no threat to local communities. Hundreds of protesters yesterday brought the Sussex village of Balcombe to a standstill with a rally against shale gas exploration, and further action is planned for today. But last night Conservative MP Mark Reckless called on the authorities to do more to help Cuadrilla – the exploration firm that has stopped drilling at the site for safety reasons – to push ahead with its work and ensure other companies are not scared off fracking in the south east. “It is incumbent on the government to protect people who abide by regulation rather than give in to mob rule,” Reckless told City A.M. “Many are inveterate protesters who are anti-capitalist and anti-growth.” The Institute of Directors (IoD) echoed his comments, blaming a “handful of ill-informed activists who appear to be gearing up for criminal activity” for the disruption. “Developing shale gas and oil is vital to the nation’s economic recovery and future energy needs,” said a spokesman. Writing in today’s City A.M., IoD adviser Corin Taylor says people in the South East need to realise that fracking “won’t be nearly as disruptive as is often thought” and will “provide plenty of well-paid job opportunities” across the region. Although Balcombe has become a focal point for the anti-fracking movement, Cuadrilla is drilling a conventional oil well there and has not decided whether to apply for a fracking permit at the site. One Balcombe resident, who wished to remain anonymous, yesterday said the usually quiet village was divided over the controversial extraction technique but most locals were exasperated with the disruption caused by the protesters. “It’s all kicking off here,” the person complained. In a rare show of cross-party agreement, Labour said it supports fracking in principle, but fears the government is overstating the potential benefits and says opponents have legitimate environmental concerns. Last week energy minister Michael Fallon told City A.M. that no part of the country should be off-limits when it comes to drilling for shale gas. But he has previously been reported as joking that supporters of fracking will have to decide “whether they like the flaring at the end of the drive”. Prime Minister David Cameron has said fracking can help drive down domestic energy bills, while Cuadrilla chairman Lord Browne, the former BP chief executive, yesterday said fracking can help secure the UK’s energy supplies. - See more at: http://www.cityam.com/article/1376879225/south-east-fracking-will-be-good-you#sthash.Y05C7Bvb.dpuf

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